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Accounting
You buy $1,500 worth of materials to build your office at home. It will be the primary place of business to earn business income. You hire a helper but you also work with him. Which one is the correct amount you can claim for expenses for your own time? $0-you cannot claim for your own time Rate equal to minimum wage Divide the hours in half then charge the minimum wage rate Same rate you paid your helper competitive (reasonable) wage rate

You buy $1,500 worth of materials to build your office at home. It will be the primary place of business to earn business income. You hire a helper but you also work with him. Which one is the correct amount you can claim for expenses for your own time? $0-you cannot claim for your own time Rate equal to minimum wage Divide the hours in half then charge the minimum wage rate Same rate you paid your helper competitive (reasonable) wage rate

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You buy $1,500 worth of materials to build your office at home. It will be the primary place of business to earn business income. You hire a helper but you also work with him. Which one is the correct amount you can claim for expenses for your own time? $0- you cannot claim for your own time Rate equal to minimum wage Divide the hours in half then charge the minimum wage rate Same rate you paid your helper competitive (reasonable) wage rate
Transcribed Image Text:You buy $1,500 worth of materials to build your office at home. It will be the primary place of business to earn business income. You hire a helper but you also work with him. Which one is the correct amount you can claim for expenses for your own time? $0- you cannot claim for your own time Rate equal to minimum wage Divide the hours in half then charge the minimum wage rate Same rate you paid your helper competitive (reasonable) wage rate
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